Výročná správa 2009 - Komunálna Poisťovňa

5. Management ReportDear shareholders,KOMUNÁLNA poisťovňa, a.s., Vienna InsuranceGroup, has produced results in 2009,which considering the local economic situation,can be considered as satisfactory. Asof 1.10.2009 we have successfully completedthe integration of Kontinuita poisťovňa, a.s.VIG with our company, whereby the Kontinuitabusiness results were closed as of 30.9.2009.Commencing from 1.10. 2009, the current businessresults were reported according to theaccounting rules only as Komunálna poisťovňaa.s., VIG.Total premium income of Komunálna poisťovňaa.s., VIG posted in 2009 was 84,091,000Euro, moving the company to the 7th placeamong the insurance companies on the Slovakinsurance market (SLASPO statistics). Duringthe previous year the company produced apremium income of 63,166,000 Euro, providingthe company in 2008 with 9th place among insurersin Slovakia (SLASPO statistics).We have produced a profit of 565,000 Eurobefore tax, which is also an improvement againstyear 2008 by 1,822,000 Euro before tax.In 2009 the company has embarked on improvingthe procedures and cost control, whichhad a positive impact on the profitability andeffectiveness of all operations.Since 1.10. 2009 the company Board of Directorshas 4 members: Ing. Vladimír Bakeš– Chairman of the Board of Directors and GeneralManager, Mag. Patrick Skyba – memberof the Board of Directors, JUDr. Jozef Csáky– member of the Board of Directors and KurtEbner – member of the Board of Directors.During a period until 30.6. 2009 the Board ofDirectors operated with 3 members, Ing. PavolButkovský – Chairman and General Manager– resigned from all positions on 30.6 2009,Ing. Vladimír Bakeš – member of the Board ofDirectors and Mag. Patrick Skyba – memberof the Board of Directors. Between 1.7.2009and 30.9.2009 the Board of Directors had twomembers: Ing. Vladimír Bakeš – member of theBoard of Directors and Mag. Patrick Skyba –member of the Board of Directors.The Board of Directors met 19 times duringthe year and adopted a number of decisions.Emphasis was placed mainly on meetingthe strategic goals, which were approved byGeneral assembly meetings held in June, August,September and December 2009:• Meeting of business plans;• Successful completion of integration of Kontinuitapoisťovňa a.s. VIG with Komunálnapoisťovňa a.s., VIG,• effectiveness of back-office structure withinVienna Insurance Group Slovakia,• meeting of sales targets;• market share increase,• building of employee and agents salesnetwork,• closer co-operation with external sales intermediaries,• customer orientation and customer care,• more effective performance and financialstability of the company,• closer co-operation with DEXIA banka Slovenskoa. s., Slovenská sporiteľňa a.s. andZMOS SRDuring year 2009 our priorities were theprofit and sales targets, as well as integrationof Kontinuita poisťovňa a.s., VIG with Komunálnapoisťovňa a.s. VIG. As a result a number ofshareholder decisions were adopted at the Generalassembly meetings, including changes tothe Company Articles, members of the SupervisoryBoard as well as a shareholder changetook place.In concurrence with legal regulations andaccounting rules all Kontinuita poisťovňa a.s.VIG assets and liabilities, including the equity,or share capital, as well as profit were transferredas of 1.10.2009 to the successor companyKomunálna poisťovňa a.s., VIG.In terms of sales, as well as back-office activitieswe have implemented optimisation measuresleading towards increased performanceand effectiveness of all company units. Atthe same time we have upgraded life and non­-life insurance products, relationship with ourexternal and internal clients and strengtheningour membership in a strong concern brand, theVienna Insurance Group towards the outside,as well as within the company.In addition to the above, the company managementplaced great emphasis on buildingSpráva predstavenstva I Management Report39